Uruguay Industry August 2021

Uruguay

Uruguay: Industrial output growth eases in August

October 13, 2021

Industrial output expanded 14.0% compared to the same month a year earlier in August, which followed July's 18.7% increase. The result marked the worst reading since March. Industrial output excluding refinery output climbed 40.9% on an annual basis in August (July: +18.7% yoy). The reading was largely due to a deterioration in food output, which grew at the slowest pace since March. In addition, paper and paper products output also decelerated. Lastly, coke and petroleum refining products production gained pace, while beverages production increased.

Meanwhile, annual average industrial production growth rose to 6.7% in August (July: +4.8%), signaling an improving trend in the industrial sector.

FocusEconomics panelists project industrial manufacturing production to grow 5.4% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, the panel sees output growth at 3.5%.


Author:, Economist

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Uruguay Industry August 2021

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: National Statistical Institute (INE) and FocusEconomics calculations.


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